The number of actively trading businesses in Australia has increased for the fourth year in a row, according to figures released today by the Australian Bureau of Statistics (ABS).
Luisa Ryan, Director of the Business Register Unit at the ABS, said there were more than 2.24 million actively trading businesses in Australia in June 2017, an increase of 3.1 per cent from June 2016, with the growth primarily driven by non-employing businesses.
“Counts of businesses increased across all States and Territories from June 2016 to June 2017 with the ACT seeing the largest percentage growth in business counts at 4.5 per cent,” she said.
Ms Ryan also noted that the entry rate of businesses into the economy increased in the year to June 2017 to 15.1 per cent compared with 14.6 per cent in 2016. At the same time, exit rates have continued to decline, with an exit rate of 12.0 per cent at June 2017 compared with 12.3 per cent at June 2016.
Nationwide, the Transport, Postal and Warehousing industry accounted for the largest growth in business counts, increasing by 12.1 per cent (16,160 businesses) from June 2016 to June 2017. This increase was driven by growth in ‘Taxi and Other Transport’ operators which increased 32.3% (6,150 businesses).
Agriculture, Forestry and Fishing has continued to have the largest total decrease in the number of businesses (1,110 businesses).